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Council of judges to decide fate of businessman Kontominas over TT loans

A council of judges will have to decide whether to remand businessman Dimitris Kontominas in pretrial custody over charges that he received millions of euros in suspect loans from Hellenic Postbank (TT) after prosecutor Giorgos Andreadis and magistrate Popi Papandreou disagreed over how to proceed on Tuesday.

Earlier in the day, Andreadis and Papandreou deposed the owner of Alpha television and Interamerican insurance firm at the private Athens hospital where he is undergoing treatment over allegations that he received some 110 million euros in unsecured loans from TT.

According to reports Kontominas denied that he received preferential treatment over the loans and said that he provided collateral, though he did concede that he has delayed in paying the loans back.

Andreadis has proposed that the 74-year-old businessman be released on bail of 5 million euros and under restrictions not to leave the country, though Papandreou wants to see him remanded in custody pending trial.

A council of judges will be convened within the next 24 hours to make the final decision.